Duties of a Chief Procurement Officer
As a key leader in the organization, the CPO have a wide range of responsibilities and are expected to have various procurement skills. Following are the essential duties of a CPO:
Develop a procurement strategy. The CPO is expected to produce a procurement plan and strategy to reduce and contain costs; evaluate and help select suppliers; ensure excellent supplier performance; oversee and sometimes participate in contract negotiations; guarantee the highest level of ethics in every transaction; and ensure procurement policies and procedures meet internal and external compliance requirement around diversity initiatives, social responsibility goals and other such programs.
Ensure products and services are delivered promptly. The CPO is responsible for guaranteeing diversity of suppliers in terms of numbers and ensuring that supplies continue if a first-choice provider is unable to deliver the needed goods or services.
Manage supplier relationships . The CPO should have great communication skills so they can build and maintain long-term, fruitful relationships with suppliers. This ensures that the organization's supply chain is managed efficiently.
Manage procurement projects and teams. A CPO must lead and manage the procurement projects. This includes managing the procurement staff members and their training, hiring new talent and optimizing their performance and workflows.
Follow compliance and regulations. The CPO must be well versed in regulations and compliance as well as the various laws and requirements governing the procurement process. For example, organizations may have internal policies as well as government requirements around diversity of suppliers to ensure nondiscrimination against minority- and women-owned businesses as well as others.
Align the procurement strategy with company goals. While developing a procurement strategy, a CPO should ensure that it is aligned with the business goals and strategies of an organization. Besides the dollar amount and quality, a CPO should consider other factors as well. For example, while setting up a procurement strategy for a company that represents sustainability and green practices, a CPO should take that into account when researching suppliers.
REQUIREMENT:
Solid background in procurement, at least 10 years of management capacity. Have handled and can handle multiple projects at a time.